The United States' imposition of steep tariffs on its top trading partners has triggered swift retaliation, intensifying global trade tensions. President Donald Trump's 25% tariffs on imports from Mexico and Canada took effect on Tuesday, alongside a sharp increase in duties on Chinese goods, doubling to 20%. The measures, impacting nearly $2.2 trillion in annual trade, have set the stage for economic uncertainty and potential price hikes for American consumers.Canada retaliated with 25% tariffs on US $20.7 billion worth of US imports, including orange juice, peanut butter, and appliances, while Mexico pledged countermeasures, delaying details until Sunday. China imposed additional tariffs of 10-15% on select US imports and filed a complaint with the World Trade Organization. Despite hints of a partial resolution from Commerce Secretary Howard Lutnick, the economic fallout from these escalating trade wars remains uncertain.
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